Rainbow Technologies, Inc. a leading provider of high-performance security solutions for the Internet and eCommerce, today announced the creation of Rainbow eSecurity, a new division focusing on the commercial security industry which combines all of the desktop, software security, and Internet and network infrastructure security solutions into a single business unit. Shawn Abbott, president of Rainbow iVEA, was named president of this new business unit, reporting directly to Walt Straub, Rainbow CEO. Rainbow Technologies now has three core divisions, Rainbow eSecurity for commercial security markets, Rainbow Mykotronx for custom and high-assurance security technologies, and Rainbow Spectria for eBusiness services.
Rainbow eSecurity was created through the consolidation of Rainbow iVEA, which manufactures and markets the Company`s award-winning CryptoSwift eCommerce accelerator product family, and Rainbow`s Digital Rights Management group, which produce Rainbow`s iKey authentication token and the Sentinel family of software security and license management solutions. Rainbow eSecurity will be based in Rainbow`s corporate headquarters in Irvine and will have offices around the world.
"Rainbow eSecurity`s core products are market leaders which allow Rainbow the opportunity to market a complete client/server and software security solution to customers who recognize that security is a strategic investment that protects business-critical information and applications," said Shawn Abbott, president, Rainbow eSecurity. "While Rainbow eSecurity will be operating in a difficult technology business environment, we have outstanding products, technology, intellectual property, market presence, and solid customer relationships. I am excited about the opportunities before us."
"In today`s challenging market, it is essential for Rainbow to adapt our organization to best position the Company for success in the business opportunities of today," said Walt Straub, president and CEO, Rainbow Technologies. "The creation of Rainbow eSecurity better positions our resources, core products and solutions, and strategic relationships to help Rainbow achieve success in our target markets."
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